UniCredit and the UniCredit European Works Council (UEWC) have signed the first joint declaration on remote work. This will allow the Group to extend the opportunities offered by technological advances, enabling new ways of working to support a better work-life balance and greater efficiency.

At UniCredit, the safety of our employees and clients is our top priority, so we take decisions based on data. At the same time, we are building on insights gained during the pandemic to prepare for the future, focusing on the evolving needs of our employees and clients, to ensure an increasingly inclusive environment.

The joint declaration was signed by UniCredit CEO Jean Pierre Mustier and UEWC Chairman Luciano Malvolti. Together, they have built on experiences from the ongoing pandemic to strengthen remote work solutions, integrating them in combination with work in physical premises.

The document defines the guidelines, principles and future minimum quality standards for remote work, in line with UniCredit's goal of building a positive and engaging work environment for all employees.

UniCredit CEO Jean Pierre Mustier commented: "Covid-19 has significantly changed our clients' mindset and behaviours, encouraging us to accelerate our digital and remote banking transformation. We are also leveraging on this new reality for our colleagues, because we believe that remote work can increase their quality of life. This is fully in line with our social commitments and ambition to be the best place to work."

UEWC Chairman Luciano Malvolti said: "This is another positive step forwards in our ongoing investment in social dialogue with UniCredit. It is crucial to our joint progress that, in challenging times such as these, we are still able to plan for the future and define concrete solutions to meet the needs of employees as well as of the company."

The new joint declaration aims to develop a global approach to offer all our colleagues access to remote working in the future, with a progressive local implementation plan which targets the following Group standards:

• Headquarters and central offices: 40 per cent of remote working time, to be distributed on a weekly or monthly basis (i.e. on average 2 days per week)
• Network: 20 per cent of remote working time, to be distributed on a weekly or monthly basis (i.e. on average 1 day a week).

The implementation of this agreement will be jointly monitored by representatives of both parties. It complements several other joint declarations, such as on Training, Learning and Professional Development, Equal Opportunities and Non-Discrimination, Responsible Sales and Work-Life Balance.

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